By Julian Donnelly 6th March 2018 One the 1st April 2014, the Financial Conduct Authority (FCA) took over the regulation of the consumer credit market from the Office of Fair Trading and found itself looking at the mammoth task of transferring over some 55,000 firms to the new regulatory regime. In a climate of […]
Read moreBy Julian Donnelly 27th January 2017 Since taking over the regulation of consumer credit in 2014, the Financial Conduct Authority (FCA) has made great strides raising standards right across the board, and in particular the payday loan and debt management sectors. One of the cornerstones of the new regulatory approach is “Treating Customers Fairly” […]
Read moreby Caroline Clark, Director of RMCSC Limited Since April 2016 insolvency practitioners have not been able to recover either success fees or uplift fees in conditional fee agreements or any adverse costs insurance premium, as insolvency practitioners’ exemption from the Legal Aid, Sentencing and Punishment of Offenders Act 2012 came to an end. Regardless of consideration of […]
Read moreBy Julian Donnelly 16th August 2016 Who would have thought it after all this time? We have a female Prime Minister, a Labour Party in disarray, a turbulent economy with a negative outlook, and a tough talking leader stomping about the Kremlin keen to throw his weight around ….please tell me I didn’t […]
Read moreby Azra Malik, Director of Simple Resolve limited. Case Allen and another, Re Longmeade Ltd (in liquidation) [2016] EWHC 356 (Ch) (25 February 2016) (Bailii) The judgment is interesting because of its factual background, rather than any unique point of novelty in the decision itself: The main point of interest is the clear and concise statement by […]
Read moreBy Julian Donnelly 31st March 2016 Hot on the heels of a big change back on the 1st October 2015 where the minimum debt level required to go bankrupt was increased from £750 (where it had been since the introduction of the 1986 Insolvency Act) to £5,000, another big change will take […]
Read moreby Caroline Clark, Director of RMCSC Limited Insolvency practitioners, who have studied to pass the professional exams, will have learnt about insolvency legislation. This includes law and rules, Statements of Insolvency Practice, regulations, case law and the insolvency ethical code. The ultimate purpose of all this legislation is to ensure that insolvency practitioners do a good […]
Read moreby Mike Pavitt, Partner of Paris Smith LLP Solicitors So-called “Creditor Portals”, and other similarly titled electronic platforms by which insolvency practitioners typically circulate any meaningful information to creditors about insolvent estates, have been a bugbear of mine ever since they were first used a little while ago. Don’t get me wrong; I absolutely applaud the […]
Read moreBy Julian Donnelly 9th October 2015 I wrote back in July that it was seemingly likely that interest rates would go up either by the end of this year or early 2016. It now appears that the markets are not expecting a rate for another year possibly (I believe this was the same last […]
Read moreBy Julian Donnelly 1st October 2015 You may or may not be aware, but as of the 1st October 2015, the minimum debt level required to go bankrupt has been increased from £750 (where it had been since the introduction of the 1986 Insolvency Act) to £5,000. There are those that argue […]
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